Flacks Group, a Miami-based investment firm with more than $4 billion in assets, has acquired the 180-room Crowne Plaza North Augusta in North Augusta, GA. The hotel is located on the banks of the Savannah River and is about eight miles from Augusta National Golf Club, home of The Masters Tournament.
Built in 2019, the property is adjacent to the Augusta GreenJackets’ minor league baseball park and is located within the expanding Riverside Village community. It offers meeting spaces and several dining options, including Salt + Marrow steakhouse and Jackson’s Bluff rooftop bar.
“We saw a compelling opportunity with the Crowne Plaza North Augusta, a full-service luxury hotel in a prime location within one of America’s most celebrated tourist destinations,” said Michael Flacks, chairman/CEO/founder, Flacks Group. “The hotel’s close proximity to the Augusta National Golf Club and the unrivaled Riverside Village location makes it an ideal asset for our real estate portfolio.”
Flacks Group was represented by Hodges Ward Elliott and advised by Blue Lotus Ventures in this acquisition. Financing was provided by J.P. Morgan.